Following the schools shutting down, classroom education shifting to the online space, and introduction of NEP in 2020, there were a lot of expectations from this year’s budget. Announcement about opening 100 new Sainik schools in partnership with NGOs, private schools, and states is a welcoming move that will encourage the sector. Further, allocating Rs 50,000 crore over five years to the National Research Foundation (NRF) for Innovation and Research & Development will stimulate the sector in the medium to long term. Introduction of the Apprenticeship Act that will spur employment opportunities for students post-education apprenticeship. Overall the budget has made positive developments and is moving in the right direction. As per the NEP, The percentage of GDP was supposed to go up not reduce it.
Which is not a good sign in the Budget. Education is not loosest point and setting back the education sector. As schools were shut during covid. Education Sector needed a bigger boost from the current Budget. It’s good that knows that 15000 schools will be a part of NEP now. Also, Samagra Shiksha was not explained properly as its a good initiative by the Govt.
Quote from, Jatin Ahuja Founder and MD of Big Boy Toyz
This year’s budget has made some valuable developments in building a strong domestic market for the automobile sector. The kind of financial support that the sector has received, including approx. INR 57,000 crores for auto and auto components and 1.08 lakh crore to MoRTH for capital is remarkable. Other than this, increased expenditure on building road infrastructure to support the sale of commercial vehicles, voluntary scrappage policy, and Research & Development, look promising for the automotive sector. Also, the increase in the customs duty on some auto parts by 15% along with PLI scheme seems to be a favourable step towards building an independent nation.
Quote from Mr. Puneet Gupta, Founder of AstroTalk – Leading Astrology Application in India
This year’s budget has taken a number of steps to promote and support startups. As opposed to last year’s allocation, this year’s budget has allocated Rs 15,700 crore to the sector. Not just this, it has also emphasized on creating a separate framework of Data Analytics, Machine Learning (ML), and Artificial Intelligence (AI) to assist the companies. Further, to mitigate the lost months during the COVID-19 pandemic, FM Nirmala Sitharaman also proposed to incentivize incorporation of one-person companies without any limit on paid-up capital to help startups and innovators. All of it was much needed to boost entrepreneurship in India and promote Aatmanirbhar Bharat.
